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Aspira Women's Health Inc. (Nasdaq: AWH) is a pioneering company focused on the development and commercialization of noninvasive diagnostic tests for gynecologic diseases. The company is at the forefront of women's health, offering innovative solutions that leverage bio-analytical techniques and artificial intelligence.
One of Aspira's flagship products is OvaSuite, a comprehensive portfolio of blood tests designed to assess the risk of ovarian cancer. This suite includes the well-known OvaWatch and Ova1Plus tests. OvaWatch, with a negative predictive value of 99%, is instrumental in evaluating ovarian cancer risk in women with adnexal masses that appear indeterminate or benign, potentially allowing them to avoid unnecessary surgeries. Ova1Plus combines two FDA-cleared tests, Ova1® and Overa®, providing a robust assessment for women scheduled for surgery due to pelvic masses.
In addition to ovarian cancer diagnostics, Aspira is expanding its test pipeline to address other pressing women's health issues. The company is developing EndoCheck, the first-ever noninvasive test for identifying endometriomas, a common form of endometriosis. Another promising test in development is OvaMDx, which combines microRNA and protein biomarkers with patient data to enhance the accuracy of ovarian cancer risk assessments.
The company's commitment to innovation is reflected in its recent achievements. Aspira has published significant clinical studies demonstrating the efficacy of OvaWatch in longitudinal monitoring of ovarian cancer risk, which could significantly reduce surgical backlogs and unnecessary referrals. Furthermore, Aspira has made strides in market access, securing payer coverage from Anthem Blue Cross and expanding its reach to millions of lives across various health plans.
Financially, Aspira has shown remarkable progress. In 2023, the company significantly reduced its operational cash use while increasing revenues and test volumes. These accomplishments were accompanied by important enhancements to their commercial organization and the achievement of key market access milestones. As of December 31, 2023, Aspira had $2.9 million in cash and raised an additional $5.5 million through a registered direct offering and private placement.
The management team, led by CEO Nicole Sandford, has positioned Aspira for substantial growth in 2024 and beyond. The company's forward-looking strategies and robust test pipeline are set to meet the growing demand for noninvasive diagnostics in women's health, offering new hope and improved outcomes for millions of women worldwide.
Aspira Women’s Health (AWH) will report its financial results for the year ended December 31, 2021, on March 23, 2022, prior to market opening. A conference call with investors is scheduled for 8:30 AM ET on the same day to discuss the results and provide corporate updates. Aspira specializes in innovative women's health solutions, particularly focusing on ovarian cancer risk assessment and pelvic diseases. With over a decade of expertise, they are advancing their portfolio with new products like OVAWatch and EndoCheck, aiming to enhance gynecologic health outcomes.
Aspira Women’s Health (AWH) appointed Celeste Fralick, Ph.D., to its Board of Directors effective February 23, 2022. Dr. Fralick brings over 40 years of data strategy experience, particularly in healthcare and technology. Notable for her leadership roles at McAfee and Intel, she has been recognized by Forbes as one of the Top 50 Women in Technology. The Board's Chair, James LaFrance, and President, Valerie Palmieri, expressed confidence in her capabilities to guide the company’s expanding portfolio and initiatives aimed at enhancing women's health outcomes.
Aspira Women’s Health Inc. (Nasdaq: AWH) announced changes in its leadership team effective March 1, 2022. Valerie Palmieri transitions to Executive Chair of the Board, while Nicole Sandford takes on the role of President and CEO. Jim LaFrance will become Lead Independent Director. Palmieri's tenure as CEO has been marked by significant advancements in women's health diagnostics, particularly in ovarian cancer. Sandford, joining from the Ellig Group, aims to leverage her extensive operational experience to boost product launches and drive growth.
Aspira Women’s Health (Nasdaq: AWH) has appointed Mr. Michael Newton as the new Head of Sales and Marketing, bringing over 20 years of experience in diagnostics to the company. Newton will oversee U.S. commercialization, focusing on driving adoption of the OVA1Plus product for early ovarian cancer risk detection. President and CEO Valerie Palmieri expressed enthusiasm for Newton's strategic expertise in enhancing product adoption and market growth. Aspira aims to solidify its position in gynecologic health with innovative testing solutions and advanced technology transfer.
Aspira Women’s Health (Nasdaq: AWH) announced its participation in the 2nd Annual Winter Wonderland Best Ideas Conference from February 8-11, 2022. Management will present on February 9 at 9:00 AM ET, accessible via a webcast. Additionally, one-on-one virtual meetings will be held on February 10-11. Aspira focuses on women's health through innovative testing and bio-analytical solutions, particularly in ovarian cancer risk assessment. Their products include OVA1plus™ and Aspira GenetiX™.
Aspira Women’s Health, Inc. (Nasdaq: AWH) announced agreements to provide testing services to nearly 500,000 Medicaid members in New Hampshire and Washington, D.C. This expansion brings Aspira's OVA1 testing to around 80% of the U.S. Medicaid population, totaling about 60 million lives. CEO Valerie Palmieri emphasized the company's commitment to ensuring equal access to non-invasive ovarian cancer risk assessments. Aspira aims for full credentialing of Medicaid lives across the U.S., enhancing their testing solutions and addressing ethnic disparities in ovarian cancer.
Aspira Women’s Health Inc. (Nasdaq: AWH) has partnered with Axia Women’s Health, a leading women’s health network, to enhance genetic testing services for nearly half a million patients annually. The five-year agreement allows Axia providers to conduct in-house genetic testing using the Aspira Synergy Genetics platform, providing customized carrier screening and hereditary cancer risk assessments.
This collaboration aims to improve patient care through early risk detection and personalized health management solutions, leveraging advanced technology and AI-driven bioinformatics.
Aspira Women’s Health Inc. (Nasdaq: AWH) reported a 23.4% increase in OVA1 volume for Q4 2021, reaching 4,750 units, up from 3,849 units in Q4 2020. The number of ordering physicians also rose by 22.8% year-over-year. Aspira is planning staged launches for its new tests, OvaWatch and EndoCheck, with expected developments through 2022. The company’s CEO highlighted the growth in test volumes and the progress in development efforts. Financial results for Q4 and full year 2021 will be discussed in March 2022.
Aspira Women’s Health Inc. (AWH) appointed Minh Merchant as General Counsel and Corporate Secretary, effective January 4, 2022. With extensive experience in healthcare law, Merchant's previous roles include General Counsel at Genome Medical and Associate General Counsel at Myriad Genetics. CEO Valerie Palmieri expressed confidence in Merchant's ability to contribute strategically to the company, known for its innovative women's health solutions. Aspira focuses on improving gynecologic health outcomes, particularly in ovarian cancer risk assessment, and aims to enhance access to specialty tests through its new technology transfer platform.
Aspira Women’s Health Inc. (AWH) reported a strong third quarter with a 34% revenue increase to $1.67 million and a 19% rise in OVA1 test volume to 4,281 units. The company successfully completed Phase 1 of its collaboration with Harvard Dana Farber Cancer Institute. Their OVA1 test now covers over 194 million lives, marking an 8% increase. Despite these gains, expenses surged, with R&D costs up by 155% and marketing expenses up 136%. The company ended the quarter with $44.9 million in cash but reported a cash usage increase to $7.9 million.
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